Answer
$7942
Work Step by Step
We can calculate simple interest on a loan by using the formula $I=prt$ (where I is the interest, p is the principal, r is the rate of interest, and t is the amount of time - expressed in years).
$r=4.5$%$=4.5\div100=.045$
$t=1$
$I=prt$
$I=7600\times.045\times1=342$ dollars
Finally, we can find the amount due by adding the interest to the original principal.
$7600+342=7942$ dollars
